The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1887-09-09
CONDITION OF THE MARKETS
The "Bear" Crowd Went Step Too Far
on Wednesday, and a Reaction Ensues.
Small Trading in Wheat at Higher Prices
Corn Shows More Life, Accompanied by
Many observation-disclosures Higher.
MONEY, BONDS AND STOCKS.

Trading Chiefly Confined to Professionals,
with Lower Prices for Almost Everything.
NEW YORK, Sept 8.-Monsy on call easy
1t 70 per cent, the last loan being made at A.
closing offered at f.
Prime mercantile paper, 7 90 per cent
Sterling exchange was dull and unsettled at
s479s IA 80 for sixty-day bills and 81. S3A "a "a
for demand.
The total sales of stocks to-day were 237.s3O
shares. including the following Canada South
ern. 4,6l0; Delaware. Lackawanna 81 Western,
5000; Erie. COLO; Lake Shore, $500; Louisville
a. Nashville, G, 7s5; Missouri Pacific 5000; North
western, {, $50; New Jersey Central, g. 15G North
rru Pacific preferred. $780, Oregon and Trans
continental 4.3i0; Reading, 70, 800; St. Paul 49,
800; Texas Pacific, f. 100: Western Union, AZ. $40.
The stock market to-day showed decreasing
volume Of business and marked falling off in
outside interest. The news of the day was not
calculated to have any material effect upon
values. and the trading again. to very
large extent, confined TO the professional ele-
ment. While the traders were the principal
sellers. there were at times free realizations.
and without any special pressure of ''long"
stock, prices saggsd nearly the entire day. The
failure of the bank Of England TO advance it's
rate, as expected in some quarters, with
further shipments OF gold to this side. was an
element Of strength in the forenoon,
when London buyer. and the increasing
prominence of telegraph matters in the market.
with the eXcellent support accOroeu 10 WESTERN
Union materially aided in the final rally. The
bears" however, were again active, With sales
of short" stock, untavorable rumors, and the
usual arguments In depressing prices, in which
they bad efficient aid from the traders. Missouri
Pacific was the heaviest sufferer among the
fpecalties. although mono of the active list
escaped their attention. Fluctuations were mar
rover and the trading quieter than on any day
for the past week. The opening WAS firm at ad-
vances extending to per cent, and while few
stocks made further slight advance, the ad
vantage not maintained and prices moved
off slowly from the opening North
west was prominent for weakness and
Western Union for strength, but 1t soon gave
way with the remainder. Rallies were feeble
auG of short duration, and further losses were
sustained toward noon, with Reading in the
lead. Extreme dulness ensusd with improving
quotations, but toward the last hour deter
mined drive carried prices to the lowest figures
of the day, Missouri Pacific showing most weak
Extensive covering brought about ma
terial reaction in the last half hour, and the
prices reached Only Western Union. New
aud these for but insignificant fractions, while
: Northern Pacific L. Pacific Mail Is, Lake Erie
} e. Western preferred /.
Railroad bonds sympathized closely with the
share market; sales. only $4S9, 900. and closing
prices are almost invariably lower. Hooking
Valley skies lost 2. at GO; Iron Mountain fves,
2, at "a; Shenandoah Valley general SKIES, Is, at
90, and Reading incomes "a, at 49,
4 Government bonds were dull and heavy.
Cye~e- 49, e. AL Mai